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USD/CNY likely to end 2019 at 6.80 - Westpac

Westpac analysts notes that the past month has seen USD/CNY largely mark time, near CNY6.72 as progress reportedly continues to be made in trade negotiations between the US and China, but intellectual property considerations remain a significant impediment to a long-term deal.

Key Quotes

“More to the point, even if a deal is announced in the near term, the effect on the economy and currency is likely to be negligible, as the US is likely to only relent on current tariffs as China meets agreed milestones. Further, amid uncertainty, Chinese authorities value ‘stability’ in the currency.”

“We look for USD/CNY to end 2019 at 6.80 and 2020 at 6.40.”

USD/IDR Technical Analysis: Struggles between 14,130/20 support-confluence and 23.6% Fibo.

In spite of multiple failures to rise past-14,230, the USD/IDR still couldn’t break 14,130/20 support-confluence and is currently trading near 14,160.
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Forex Today: GBP unfazed by EU’s “Flextension”, eyes on cross-party Brexit talks

Forex today breathed a sigh of relief in Thursday’s Asian trading, as the dust settled over the Super Wednesday aftermath that offered no new surprise
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